Ut oh! Get out your measuring tapes!
Comments Regarding the dSGEIS for Natural Gas Drilling in New York State’s Southern Tier
VI. FHA Financing and Gas drilling
My staff came across this HUD regulation which deals with gas drilling permits. According to the HUD Handbook 4150.2 pgs. 2-7 states that, “No existing dwelling may be located closer than 300 feet from an active or planned drilling site. Note that this applies to the site boundary, not to the actual well site.” A property with a gas or oil lease is therefore, not eligible for FHA financing.
This is one issue that was not brought up during any of the hearings and I know it is out of the scope of DEC but it should be duly noted. How might this affect adjacent property owners that will not benefit from drilling but might be within 300 feet of the site boundary?